CB Richard Ellis is pleased to announce that it has been retained as the exclusive advisor for the sale of Chimneys Of Cradlerock and Lazy Hollow Apartments.
Chimneys of Cradlerock boasts a phenomenal location in Columbia, Maryland, which is situated in Howard County, the third wealthiest county in the United States. Built in 1979, the well-performing community features solid construction and spacious units averaging 1,021 square feet. The property is equidistant from Baltimore, Maryland and Washington, DC, and provides residents with easy access to major commuter routes such as Interstate 95, MD. Rt. 32 and Md. Rt. 29. Additionally, The Owen Brown Village Shopping Center is less than one half mile from the property and is anchored by a Giant supermarket.
Lazy Hollow, built in 1979, the 13 garden-style buildings benefit from their highly sought-after location in Howard County, the third wealthiest county in the country. Situated in Columbia, the affluent community is in an award-winning school district and contains premiere shopping and retail, as well as access to the Columbia Association's amenities, including a skate park, horse riding rink, batting cage and the town's interconnecting walking paths. Md. Rt. 32 and US Rt. 29 are within two minutes of the property and provide easy access to I-95 and the Baltimore-Washington Thurgood Marshall Airport.
The properties can be purchased as a portfolio or as individual assets with the option to assume existing debt or purchase all-cash.
Offers for this opportunity are due Wednesday, February 20th, 2008.
For information, contact:
Michael E. Muldowney
Executive Vice President
T: 410 244 3144
mike.muldowney@cbre.com